SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 23, 1997
VERMONT FINANCIAL SERVICES CORP.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-11012 03-0284445
(State or Other Jurisdiction (Commission File (IRS Employer Identification
of Incorporation) Number) Number)
100 Main Street
Brattleboro, Vermont 05301
(Address of Principal Executive Offices)
802/257-7151
(Registrant's Telephone Number, including Area Code)
Item 4. Changes in Registrant's Certifying Accountants
On April 23, 1997, Vermont Financial Services Corp. (the "Company"), upon
recommendation of the Audit Committee of the Board of Directors, appointed
KPMG Peat Marwick LLP as its independent auditors for the fiscal year ending
December 31, 1997 and dismissed of Coopers & Lybrand L.L.P. ("Coopers &
Lybrand").
During the two years ended December 31, 1996, and the subsequent interim
period through April 23, 1997, there was no disagreement between the Company
and Coopers & Lybrand on any matter of accounting principles or practices,
financial statements disclosure, or auditing scope and procedures which, if
not resolved to the satisfaction of Coopers & Lybrand, would have caused them
to make reference to the subject matter of the disagreement in connection
with their audit report for either of such two years.
The audit reports of Coopers & Lybrand on the consolidated financial
statements of the Company and its subsidiaries as of and for the years ended
December 31, 1996 and December 31, 1995, did not contain an adverse opinion
or disclaimer of opinion, nor was either such report qualified or modified
as to uncertainty, audit scope, or accounting principles, except that an
explanatory paragraph regarding the adoption of Statement of Financial
Accounting Standards No. 122, "Accounting for Mortgage Servicing Rights
was contained in the report for the year ended December 31, 1996.
The Company has requested Coopers & Lybrand to furnish a letter addressed to
the Commission stating whether it agrees with above statements. A copy of
that letter will be filed as an amendment to this Form 8-K.
Item 7. Financial Statements and Exhibits.
(c) Exhibits. The following exhibit will be filed as an amendment to this
Form 8-K:
Exhibit No. Description
16 Letter from Coopers & Lybrand L.L. P. Re Change in Certifying
Accountant
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Vermont
Financial Services Corp. has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
VERMONT FINANCIAL SERVICES CORP.
Date: May 22, 1997 By: /s/ John D. Hashagen,Jr.
President and Chief Executive Officer
